Today’s Compound and Friends is brought to you by Masterworks:
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On today’s show we discuss:
- PayPal earnings
- Coinbase earnings
- November FOMC meeting
- Earnings season
- The Warren Buffet way still works
- Junk-bond deals on track for the slowest October and Year since 2008
- Rising rates threaten to expose office building’s inflated values
Listen here:
Recommendations:
Carleton English:
Scott Krisiloff
Charts:
Tweets:
How much did markets dislike Powell's presser today? It was the worst last 90 minutes of a Fed Day for the S&P (-3.2%) since 1994 (when the Fed began announcing policy decisions on the day of the meeting).
Read our full analysis in tonight's Closer: https://t.co/MKhmUCp8DC pic.twitter.com/H5uouP2yqz
— Bespoke (@bespokeinvest) November 2, 2022
The Fed is trying to tighten financial conditions and keep them tight.
Talk about a Fed “pivot” can be confusing because a slowdown in the pace of hiking doesn’t necessarily mean an earlier end to hikes given the need to keep financial conditions tight https://t.co/IgfJO0copI
— Nick Timiraos (@NickTimiraos) November 2, 2022
We can safely call this an analyst forecast capitulation. S&P 500 estimates now falling for the two years ahead. pic.twitter.com/NNFuzyD0XP
— Gina Martin Adams (@GinaMartinAdams) November 1, 2022
While most companies are beating (lowered) earnings estimates, there is an unmistakable slowdown in EPS growth. Ex-energy, earnings growth for 2022 is expected to be a modest 1.8%, with risk to the downside. pic.twitter.com/PoTAs618no
— Jurrien Timmer (@TimmerFidelity) November 2, 2022
Gundlach:
“Tax loss selling is the biggest risk to the market going into year end. I believe this is the biggest tax loss selling opportunity in 2 generations”
— QE Infinity (@StealthQE4) November 2, 2022
Me/people getting pitched $TWTR by an ARKK Venture Fund on A16z backed Titan App TODAY after another rate hike of 75 beeps are not how tech bottoms are formed…actually it's distasteful !
I am wrong a LOT, but not about this (hope I am wrong …but I am not…but hope I am) pic.twitter.com/1x24st2IeX
— CanadianCommieSnowflake (@howardlindzon) November 2, 2022
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